Freeport given temporary export permit for Grasberg copper mine

Freeport-McMoRan’s Indonesian subsidiary has been granted a temporary permit to export copper concentrates from its Grasberg mine, according to the Indonesian mines secretary, breaking a twelve-week deadlock that had cut supply to Asian smelters.

Indonesia’s Energy and Mineral Resources Ministry secretary-general Teguh Pamudji told reporters on Tuesday April 4 that the country had granted PT Freeport, majority owner and operator at Grasberg mine, an eight-month export licence. The reprieve means Freeport can renew deliveries of copper concentrates to customers in Asia after declaring force majeure in February. Longer-term discussions over the company’s rights and commitments in the country still need to be completed. "We are still finalising discussions with the government and negotiations will continue," PT Freeport spokesperson Riza Pramata told Metal Bulletin. "We believe that we’re on the verge of having an agreement that is a positive step for the government and for us which would allow...

Published

Archie Hunter

April 05, 2017

12:00 GMT

London